|[August 06, 2014]
Lieff Cabraser Announces Class Action Litigation Against Galectin Therapeutics Inc. - GALT
SAN FRANCISCO --(Business Wire)--
The law firm of Lieff Cabraser Heimann & Bernstein, LLP announces that class
action litigation has been brought on behalf of those who purchased or
otherwise acquired the publicly traded securities of Galectin
Therapeutics Inc. ("Galectin" or the "Company") (NasdaqCM:GALT)
between January 6, 2014 and July 28, 2014, inclusive (the "Class
If you purchased or acquired Galectin publicly traded securities during
the Class Period, you may move the Court for appointment as lead
plaintiff by no later than September 29, 2014. A lead plaintiff is a
representative party who acts on behalf of other class members in
directing the litigation. Your share of any recovery in the action will
not be affected by your decision of whether to seek appointment as lead
plaintiff. You may retain Lieff Cabraser, or other attorneys, as your
counsel in the action.
Galectin investors who wish to learn more about the action and how to
seek appointment as lead plaintiff should
click here or contact Sharon M. Lee of Lieff Cabraser toll-free at
Background on the Galectin Securities Class
The action charges Galectin and certain of its senior officers and
directors with violations of the Securities Exchange Act of 1934.
Galectin is a development stage company engaged in the research and
development of therapies for fibrotic disease and cancer.
According the complaint, defendants violated the federal securities laws
by disseminating false and misleading statements to the investing public
throughout the Class Period. As a result of these false statements,
Galectin's stock traded at artificially inflated prices during the Class
Period, reaching a high of $18.30 per share on February 27, 2014.
On July 28, 2014, Bleecker Street Research published an article on
SeekingAlpha.com reporting that Galectin "has strong ties to stock
promoters" engaged in a misleading brand awareness campaign aimed at
boosting the price of Galectin stock. The same day, Adam Feuerstein
published an article on TheStreet.com revealing that Emerging Growth
Corp., via its parent company, penny-stock promotions firm TDM
Financial, was paying for misleading promotional campaigns to provoke
investment in Galectin's stock.
On this news, Galectin's stock dropped $8.84 per share, or 60.8%, from a
previous close of $14.54 on July 27, 2014, to close at $5.70 per share
on July 29, 2014, on extremely heavy trading volume.
About Lieff Cabraser
Lieff Cabraser Heimann & Bernstein, LLP, with offices in San Francisco,
New York, and Nashville, is a nationally recognized law firm committed
to advancing the rights of investors and promoting corporate
The National Law Journal has recognized Lieff Cabraser as one of
the nation's top plaintiffs' law firms for eleven years. In compiling
the list, the National Law Journal examines recent verdicts and
settlements and looked for firms "representing the best qualities of the
plaintiffs' bar and that demonstrated unusual dedication and
creativity." Best Lawyers and U.S. News have also named
Lieff Cabraser as a "Law Firm of the Year" each year the publications
have given this award to law firms.
For more information about Lieff Cabraser and the firm's representation
of investors, please visit http://www.lieffcabraser.com.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
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